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Category: 203K Contracting

Top 3 Things to Consider When Hiring a Contractor

First and foremost, clear communication is paramount. If you know what you want the contractor to do for you and can clearly relate that need, your contractor is less likely to misunderstand those instructions. Cost overruns almost always start with poor communication. Step #1 starts with You! Write it down.

3 Reasons to Leap into the Housing Market this Spring

Happy Leap Day! It only happens once every 4 years – how will you take advantage of the extra day? We’re looking at all the ways we can share a little more information with home buyers today, because we’re seeing all kinds of good news on the housing market. Low prices, low interest rates and great mortgage programs all point to one thing: it’s a buyer’s market.

To Realtor – The Right Way to Get Your 203K Estimate

This past week, I had three conversations with Realtors who had buyers who were looking at foreclosed or short-sale homes. They were considering using the FHA 203K program. All three Realtors wanted a bid so they would know how much to offer on the house.

Many Realtors think this is where the 203K process starts. If you are one of them, don’t feel bad – you are not alone. Intuitively, it makes sense.

How to Know when Tandem Circuit Breakers can be Used (aka – cheater breakers)

First, a quick definition. A tandem circuit breaker is a double circuit breaker that takes up the space of a single circuit breaker on a panelboard. You’ll also hear them called duplex, slimline, twin, half-height, half-inch, double and wafer breakers, depending on local customs. While a two-pole circuit breaker gets connected to two different poles at a panelboard and has a common trip or a handle tie for simultaneous disconnecting of two poles, a tandem breaker does not.

Brave First Time Home Buyers Buy a Fixer Upper

Smart first time home buyers use a mortgage program that finances a professional to do all the work so they can enjoy the new home rather than wallowing in the weekend work. So what does the smart, brave buyer use? It’s called the FHA 203k. This mortgage option allows you to buy a home in almost any condition and roll the cost of improvements or repairs into the mortgage payment, all based on the value after the work is done.

If You Plan On Investing In A “Flip House” Do It Right

Ah the American dream. The hope that some saved investment money will yield more for you when your dreams become reality. You’ve spent hours watching the so called “Flip shows” on the DIY network and your burning desire is to be the next great guru of homes. The paint! The pretty fixtures! Everyone else is doing it so it can’t be that hard! When all the dust has settled along comes the Home Inspector ready to essentially score your pet project.

Successfully Selling a Rehab

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The challenges sales agents face continue to plague the market. With the high number of foreclosures on the rise many sales agencies are realizing the benefits of FHA 203K Rehab loan. But how do you sell it? What sets this loan program apart from a standard sale?

There are pros and cons to every market condition. We’ve compared the

A Perspective on the Standard Sale vs the 203K Rehab Sale

I see firsthand the potential savings that lie just below the surface of the FHA 203K Loan program. The value appreciation and subsequent positive karma derived from wise investing creates joy in those who benefit, and the money isn’t bad either. As a 203K consultant I’m constantly